Washington Mutual Inc pfd K (fka WAMKQ)

[etzetrade]

Even GM still makes cars, however, new GM has nothing to do with Motor Liquidation Company, which is the name for old GM. The reason that Motor Liquidation company is there is because old GM still owned manufacturing facilities, 4 brand names (Hummer, Saturn..etc)as hard assets, and all liablities. Old GM seeks the buyers in order to pay out liabilities. If A>L, then old common gets paid, the price is around 0.50/share. Otherwise, it is gone.